Are you paying attention to what the money managers who you’ve entrusted with your lifetime savings are actually doing with your money? Are they investing to get the best possible return they can — so that you will be able to retire comfortably and perhaps buy a vacation home or leave an estate for your children and grandkids? Or are they injecting their own political biases into the way your money is invested?

Too often of late, they are doing the latter. They are playing politics with your pension. And that’s a violation of their fiduciary duty to you as a client. This scam may be costing you tens of thousands of dollars of retirement income. Or more.

I’m referring to the latest fad on Wall Street called “ESG investing.” ESG investing secretly directs Americans’ personal savings (without our knowledge or explicit approval) into investments that are “green,” or otherwise “socially conscious.”

Updated: Tue May 21, 2024